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China pledges US$ 2 b to fight COVID-19

Chinese President Xi Jinping said Monday his country will provide $2 billion over two years to help other countries respond to the impact of the Coronavirus pandemic.

The leader of the world’s second-largest economy, where the disease known as Covid-19 emerged late last year, was speaking via video conferencing at the opening ceremony of a key World Health Organization meeting.

“China will provide 2 billion U.S dollars over two years to help with Covid-19 response, and with economic and social development in affected countries, especially developing countries,“ Xi said, according to an official English translation.

Xi added that when a vaccine for the disease is available, it “will be made a global public good.” Some Chinese companies are at the forefront of development and testing for a Covid-19 vaccine.

The 73rd World Health Assembly, whose annual gathering kicked off Monday, is a decision-making body of the WHO, which is the United Nations’ specialized global health agency. The meeting of 194 members typically occurs in Geneva, Switzerland, where delegates agree upon the organization’s leadership, priorities and budget. This year, due to the Coronavirus, the shortened session is set to run virtually between Monday and Tuesday. (CNBC)